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Health & Welfare Plans Newsletter

May 3, 2022

3 New Job Opportunities 3 New Job Opportunities

 

[Guidance Overview]

Using the New Group Health Plan Fee Disclosure Rules to Reduce Plan Costs

"[A] prudent fiduciary may want to request a proposal from other potential service providers to better understand what others in the market charge for the services, or ask its current service provider what it would charge for its services if the indirect compensation was eliminated. Service providers may also receive indirect compensation from other group benefits such as life, disability, or supplemental insurance.... [A] prudent ERISA fiduciary should obtain information about that compensation ... [B]ecause it is the company that traditionally pays the cost of these coverages, a prudent fiduciary may be able to use the information in these disclosures to reduce the company's cost of coverage."  MORE >>

Dickinson Wright

[Sponsor]

2022 Onsite Employee Health Clinics Forum (June 23 - 24, 2022; Chicago, IL)

Leading Strategies to Build & Expand Worksite Clinics: Reduce Medical Expenses, Ensure/Maintain a Competitive Benefits Strategy and Achieve a High-Performing & Healthy Workforce.

Sponsored by World Conference Forum

[Guidance Overview]

Delays Could Be in Store for Early 'No Surprises Act' Arbitration Cases

"The portal for payment arbitration cases taking place under the No Surprises Act is open for business but likely will face a backlog. HHS is getting ready to issue a new set of regulations that will incorporate changes to the arbitration criteria as required by a February court ruling. The updated criteria are expected to be more favorable for providers in the settlement of disputes over out-of-network payment."  MORE >>

Healthcare Financial Management Association [HFMA]; free registration required

[Guidance Overview]

Exceptional Usefulness and Quality icon Paid Sick Leave Mandates Continue to Expand at State Level (PDF)

48 pages; Apr. 29, 2022. "Effective July 1, 2022, New Mexico's Healthy Workplaces Act ... requires most employers to provide employees one hour of paid sick leave for every 30 hours worked.... [A] growing number of states [require] employers to provide paid sick and other accrued leave for employees. This GRIST provides a chart detailing key provisions of these laws in each jurisdiction."  MORE >>

Mercer

[Guidance Overview]

Questions and Answers About Paid Family and Medical Leave Benefits for Maryland Workers

"As the [Time to Care Act (TTCA)] will be phased in incrementally over the next two years, employers will have time to plan and prepare, become familiar with the TTCA's benefits scheme, and project the potential additional costs that the TTCA will impose on them. Employers also may want to plan for the effect the TTCA may have on existing leave policies and bargaining agreements.... [A]nswers to some of the most frequently asked questions about the TTCA are provided [in this article]."  MORE >>

Ogletree Deakins

[Guidance Overview]

IRS Announces 2023 HSA/HDHP and Excepted Benefit HRA Limits

"Plan sponsors with HDHP deductibles below the new minimums of $1,500 for self-only and $3,000 for family coverage will need to increase those deductibles in 2023. While the out-of-pocket maximums have increased for 2023, they are still well below the maximum limits allowed in 2023 under the ACA of $9,100 for self-only and $18,200 for family coverage."  MORE >>

Buck

Top Benefits Trends: What You Need to Know About Benefits Now

"Employees want new offerings that work in today's world, which include more flexibility, mental health options, and family-focused benefits. And employers are taking note. A recent report revealed that 66% plan to offer greater work flexibility, 63% plan to increase child care benefits, and 41% plan to increase elder care benefits."  MORE >>

Newfront

Financial Hardship from Purchasing Prescription Drugs Among Older Adults in the United States Before, During, and After the Medicare Part D 'Donut Hole'

"Five percent of older adults lacked prescription drug coverage in 2021, continuing a downward trend from 32% in 1998, 29% in 2001, and 9% in 2015. Contrastingly, 20% of older adults reported financial hardship from prescription drug purchases in 2021, bending an upward trend from 19% in 1998, 31% in 2001, and 36% in 2015.... Financial hardship from purchasing prescription drugs is still experienced by many older adults after the full implementation of the MMA and ACA. Lacking prescription drug coverage, taking more than 5 prescription drugs daily, and a low annual household income may increase the likelihood of experiencing this financial hardship."  MORE >>

Journal of Managed Care & Specialty Pharmacy [JMCP]

Employee Benefits Jobs

View job as Group Benefits Program Implementation Analyst
          for National Rural Electric Cooperative Association (NRECA) Group Benefits Program Implementation Analyst

National Rural Electric Cooperative Association (NRECA)

Arlington VA

View job as Group Benefits Program Implementation Analyst
          for National Rural Electric Cooperative Association (NRECA)

View job as ESOP Retirement Account Administrator, Senior
          for Alerus ESOP Retirement Account Administrator, Senior

Alerus

Remote

View job as ESOP Retirement Account Administrator, Senior
          for Alerus

View job as Retirement Account Administrator
          for Alerus Retirement Account Administrator

Alerus

Remote

View job as Retirement Account Administrator
          for Alerus

Press Releases

Segal Marco Advisors Honored to be Named a Greenwich Quality Leader for the Fourth Consecutive Year

Segal Marco Advisors

Ascensus Launches New Brand Visual Identity

Ascensus

65 Incorporated Rolls Out Medicare Planning Software for Advisors

65 Incorporated

TRA Appoints Brian Flynn As New Regional Sales Consultant

The Retirement Advantage [TRA]

Webcasts and Conferences
(Health & Welfare Plans)

What Is New with Plan Audits!

May 17, 2022 in GA

Pension Education Council of Atlanta [PECA]

Last Issue's Most Popular Items

IRS Announces 2023 Limits for HSAs, HDHPs and Excepted Benefit HRAs

McDermott Will & Emery

Text of HHS Final Regs: ACA Benefit and Payment Parameters for 2023

Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services [HHS]

Be Ready for Enforcement of Transparency Rules

Fraser Trebilcock

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BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587.

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